ADNOC Secures 15-Year LNG Supply Deal with Indian Oil
(Reuters) — The Abu Dhabi National Oil Company has agreed a 15-year deal to supply Indian Oil with 1 million metric tons per annum of liquefied natural gas, the Abu Dhabi Media Office said on Monday.
The LNG will mainly come from ADNOC's Ruwais LNG project, the government media office said.
ADNOC has big ambitions in gas and LNG, which along with renewable energy and petrochemicals it sees as pillars for its future growth, putting it in competition with regional rivals Qatar - one of the world's top LNG exporters - and Saudi Arabia, which also has LNG ambitions.
ADNOC awarded Shell, BP, TotalEnergies and Japan's Mitsui each a 10% stake in the Ruwais project, expected to begin output in late 2028.
The project, which will run on clean power, will consist of two plants each producing 4.8 million tons per annum (mtpa) of LNG, which will more than double ADNOC's LNG capacity to 15 mtpa.
ADNOC had already signed other agreements for LNG supply from Ruwais, including with Shell, Mitsui, Osaka Gas, China's ENN and Germany's EnBW and SEFE.
Related News
Related News
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments